Wedge Capital Management L L P NC lowered its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 28.5% during the third quarter, HoldingsChannel.com reports. The fund owned 5,612 shares of the industrial products company’s stock after selling 2,241 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Worthington Industries were worth $202,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of WOR. Point72 Asset Management L.P. bought a new stake in Worthington Industries during the second quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Worthington Industries by 17.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,581 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 392 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Worthington Industries by 74.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,588 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 1,104 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Worthington Industries during the second quarter valued at $171,000. Finally, Murphy Capital Management Inc. bought a new stake in Worthington Industries during the second quarter valued at $207,000. 45.77% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Jeffrey R. Klingler sold 961 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.46, for a total transaction of $36,960.06. Following the transaction, the insider now owns 5,307 shares in the company, valued at $204,107.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 34.80% of the stock is currently owned by corporate insiders.
WOR has been the topic of a number of research analyst reports. Zacks Investment Research reaffirmed a “sell” rating on shares of Worthington Industries in a research report on Saturday, September 28th. ValuEngine upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, TheStreet lowered shares of Worthington Industries from a “b-” rating to a “c” rating in a report on Wednesday, September 25th.
Shares of NYSE WOR traded down $0.04 during trading on Friday, hitting $38.95. 100,041 shares of the company traded hands, compared to its average volume of 225,601. The business’s fifty day moving average is $36.33 and its 200 day moving average is $37.34. Worthington Industries, Inc. has a fifty-two week low of $31.42 and a fifty-two week high of $43.52. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.06 and a beta of 1.16. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 2.13.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings data on Wednesday, September 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.10). Worthington Industries had a net margin of 2.58% and a return on equity of 15.28%. The company had revenue of $855.86 million for the quarter, compared to analyst estimates of $924.00 million. During the same quarter in the prior year, the company posted $0.92 EPS. Worthington Industries’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, analysts predict that Worthington Industries, Inc. will post 2.72 EPS for the current year.
The business also recently disclosed a — dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, December 12th. This represents a dividend yield of 2.7%. Worthington Industries’s dividend payout ratio is currently 34.66%.
About Worthington Industries
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
Featured Story: Why do companies issue stock splits?
Want to see what other hedge funds are holding WOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Worthington Industries, Inc. (NYSE:WOR).
Receive News & Ratings for Worthington Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worthington Industries and related companies with MarketBeat.com's FREE daily email newsletter.